4636 Commonwealth Ave · Toledo, OH 43612

$99,000

3 bd · 1.0 ba · 1,159 sqft · SingleFamily public records · 22 Days on market

Built 1928 4,000 sqft lot Est $140k · 29% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.3/10.0
• Rent growth +4.0/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE 3 BEDROOM WEST TOLEDO HOME THAT SHOWS WELL. UPDATES INCLUDE: NEW HOT WATER TANK(6/05), BASEMENT FRESHLY PAINTED(6/05),PLUMBING, FURNACE, CENTRAL-AIR & NEW AREA RUG IN THE DININGROOM. NEWER 18' ROUND ABOVE GROUND POOL OUT BACK WITH A PRIVACY FENCE & A NICE SIZE PATIO. ONE YEAR HOME WARRANTY INCLUDED W/ THIS HOME. THIS IS A MUST SEE!!

Key facts

• 4,000 sq ft lot
• Garage
• Built 1928

Property features AI

Exterior

• Parking: Detached garage; Driveway; Total parking for 4 vehicles; Garage capacity: 1.5 cars
• Utilities: Public water; Sanitary sewer; Cable, Wi-Fi, and internet available
• Home design: Single-family residence; Two levels / 2-story
• Construction: Construction: Other; Foundation: Other
• Exterior features: Garden; Shingle roof

Interior

• Kitchen: Refrigerator; Gas oven; Dishwasher; Pantry
• Bedrooms: Primary bedroom on upper level (approximately 14 x 10); Bedroom 2 on upper level (approximately 10 x 9); Bedroom 3 on upper level (approximately 10 x 10)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Pantry; Other interior features; Finished basement
• Laundry & utility: Washer and dryer included; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#645 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Toledo City (urban): math 15% / reading 24% proficiency, ranked #634 of 656 in OH (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Larchmont Elementary School (math 12% / reading 21%, grade F, #1,363 of 1,584 statewide, top 86%, 415 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.0%/yr); 92 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $21k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.59%
• DSCR: 1.47
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $140,239
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1546 Gould Rd	0.02mi	3/1.0	1,159 (0%)	1mo	$75,000	$65	98
1531 Bradmore Dr	0.17mi	3/1.0	1,222 (+5%)	2mo	$160,000	$131	82
4612 Willys Pkwy	0.43mi	3/1.0	1,163 (+0%)	1mo	$85,000	$73	78
1344 Corbin Rd	0.33mi	3/1.0	1,200 (+4%)	1mo	$157,500	$131	78
4444 Belmar Ave	0.23mi	3/1.0	1,226 (+6%)	2mo	$171,900	$140	78
4218 Parrakeet Ave	0.49mi	3/1.0	1,163 (+0%)	2mo	$107,500	$92	75
4341 Lyman Ave	0.35mi	3/1.0	1,201 (+4%)	3mo	$160,000	$133	75
1805 Tremainsville Rd	0.68mi	3/1.5	1,152 (-1%)	1mo	$92,000	$80	65
1221 Eleanor Ave	0.55mi	3/1.0	1,098 (-5%)	1mo	$120,000	$109	64
1204 Higley St	0.56mi	2/2.0 (-1)	1,184 (+2%)	1mo	$119,000	$101	60
1818 Christian Ave	0.71mi	3/1.5	1,075 (-7%)	2mo	$155,000	$144	52
5247 Jackman Rd	0.70mi	3/1.5	1,044 (-10%)	1mo	$126,000	$121	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $3,379
• Equity at exit: $14,761

10-year hold

• IRR: 15.4%
• Equity multiple: 2.43×
• Total profit: $39,763
• Equity at exit: $8,560

Cash invested: $27,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,219 high
• Mortgage (P&I): −$519
• Tax from tax record: −$158 /mo · $1,894/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $245

Break-even live

Break-even rent $909

Max offer price $99,000

Occupancy floor 75%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	0.01mi
4435 Jackman Rd Toledo, OH	1.0–2.0	1.0	725	$922	$1.27	14d	3	0.33mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	14d	1	0.35mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	23d	1	0.44mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.48mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	44d	1	0.56mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	44d	1	0.60mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.63mi
1733 Christian Ave Unit 5 Toledo, OH	2.0	1.0	839	$700	$0.83	44d	1	0.64mi
1801 Christian Ave Toledo, OH	1.0–2.0	1.0	750	$939	$1.25	14d	1	0.66mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	0.78mi
3901 Leybourn Ave Toledo, OH	3.0	1.0	840	$1,150	$1.37	23d	1	0.80mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	14d	1	0.84mi
1732 Newport Ave Toledo, OH	3.0	1.0	896	$1,350	$1.51	23d	1	0.85mi
3817 Burton Ave Toledo, OH	3.0	1.0	754	$1,015	$1.35	21d	1	0.88mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.89mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	44d	1	0.93mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.95mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	44d	1	0.96mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.98mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	44d	1	0.98mi
823 Custer Dr Unit Upstairs Toledo, OH	2.0	1.0	700	$925	$1.32	14d	1	1.03mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	1.05mi
1732 Talbot St Toledo, OH	2.0	1.0	840	$995	$1.18	23d	1	1.05mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	44d	1	1.10mi
2244 W Sylvania Ave Unit 6 Toledo, OH	2.0	1.0	800	$795	$0.99	44d	1	1.11mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	44d	1	1.13mi
1846 Loxley Rd Toledo, OH	2.0	1.0	876	$900	$1.03	44d	1	1.15mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	1.17mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	14d	1	1.17mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	44d	1	1.17mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	23d	1	1.18mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	44d	1	1.18mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	44d	1	1.20mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	1.20mi
1951 Loxley Rd Toledo, OH	2.0	1.0	804	$975	$1.21	23d	1	1.21mi
1705 Marlow Rd Toledo, OH	2.0	1.0	738	$1,000	$1.36	23d	1	1.22mi
2301 Portsmouth Ave Toledo, OH	4.0	1.0	1335	$1,395	$1.04	23d	1	1.23mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	1.24mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	44d	1	1.28mi

Listing history 11 events

1. 2026-04-21
   status Pending
2. 2026-04-12
   price $99,000
3. 2026-03-29
   listed $120,000 Active
4. 2026-03-13
   historical $120,000
5. 2005-09-06
   soldstatus $99,000
6. 2005-08-30
   soldstatus $99,000 347-char remark

   Show marketing remark (347 chars)

   NICE 3 BEDROOM WEST TOLEDO HOME THAT SHOWS WELL. UPDATES INCLUDE: NEW HOT WATER TANK(6/05), BASEMENT FRESHLY PAINTED(6/05),PLUMBING, FURNACE, CENTRAL-AIR & NEW AREA RUG IN THE DININGROOM. NEWER 18' ROUND ABOVE GROUND POOL OUT BACK WITH A PRIVACY FENCE & A NICE SIZE PATIO. ONE YEAR HOME WARRANTY INCLUDED W/ THIS HOME. THIS IS A MUST SEE!!

7. 2005-07-20
   price $99,000 347-char remark

   Show marketing remark (347 chars)

   NICE 3 BEDROOM WEST TOLEDO HOME THAT SHOWS WELL. UPDATES INCLUDE: NEW HOT WATER TANK(6/05), BASEMENT FRESHLY PAINTED(6/05),PLUMBING, FURNACE, CENTRAL-AIR & NEW AREA RUG IN THE DININGROOM. NEWER 18' ROUND ABOVE GROUND POOL OUT BACK WITH A PRIVACY FENCE & A NICE SIZE PATIO. ONE YEAR HOME WARRANTY INCLUDED W/ THIS HOME. THIS IS A MUST SEE!!

8. 2005-05-31
   listed $97,500 347-char remark

   Show marketing remark (347 chars)

   NICE 3 BEDROOM WEST TOLEDO HOME THAT SHOWS WELL. UPDATES INCLUDE: NEW HOT WATER TANK(6/05), BASEMENT FRESHLY PAINTED(6/05),PLUMBING, FURNACE, CENTRAL-AIR & NEW AREA RUG IN THE DININGROOM. NEWER 18' ROUND ABOVE GROUND POOL OUT BACK WITH A PRIVACY FENCE & A NICE SIZE PATIO. ONE YEAR HOME WARRANTY INCLUDED W/ THIS HOME. THIS IS A MUST SEE!!

9. 1993-05-13
   soldstatus $48,000
10. 1986-07-16
    soldstatus $42,500
11. 1972-03-31
    soldstatus $23,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $1,894 · $158/mo
• Projected year-2 tax: $1,894 · $158/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,626
• − Mortgage interest: −$5,546
• − Property taxes: −$1,894
• − Insurance: −$495
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$2,880
• Taxable income: $1,471
• Est. tax owed @ 24.0%: −$353
• After-tax cash flow: $2,582/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Toledo City
• NCES district ID: 3904490
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 24% ▼ -13.00%
• Median HH income: $32,137
• Composite: 15.76/100
• National rank: #9276
• State rank: #634 of 656 in OH

Livability — Toledo

• Score: 66/100
• State rank: #645
• US rank: #11442

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Toledo, OH
• County: Lucas County · 380,724 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

Population outlook (Lucas County) Hauer SSP2

• Today (2025): 420,751 people
• By 2030: 410,187 · -2.5%
• By 2040: 384,019 · -8.7%
• By 2050: 355,125 · -15.6%
• By 2075: 291,683 · -30.7%
• By 2100: 233,670 · -44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Lucas

• 2024 margin: D (+12.6) · D 55.8% · R 43.2%
• 2008→2024 swing: -18.9pp toward R · 2008: 31.4pp · 2024: 12.6pp
• All cycles: 2024: D+12.6 2020: D+16.8 2016: D+17.4 2012: D+30.4 2008: D+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• Metro: Toledo, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+321.3% since first listed

11 events — show timeline

• 2026-04-21 Pending — NORIS
• 2026-04-12 Price Changed $99,000 NORIS
• 2026-03-29 Listed $120,000 NORIS
• 2026-03-13 Coming Soon $120,000 NORIS
• 2005-09-06 Sold (Public Records) $99,000 Public Records
• 2005-08-30 Sold (MLS) $99,000 NORIS
• 2005-07-20 Price Changed $99,000 NORIS
• 2005-05-31 Listed $97,500 NORIS
• 1993-05-13 Sold (Public Records) $48,000 Public Records
• 1986-07-16 Sold (Public Records) $42,500 Public Records
• 1972-03-31 Sold (Public Records) $23,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,894 · -0.2% YoY. Source: county tax records.